500 jobs to go as Puma concentrates on ‘controllable factors’
Sports footwear and apparel group Puma has reported revenues of just over €2 billion for the first quarter of 2025, down by 1.3% compared to the same period last year.
Sales in Europe increased by 5.1% year on year to reach €891.7 million for the quarter, but there were falls in the Americas and Asia.
In the Americas, Puma achieved Q1 revenues of €753.7 million, down by 2.7% year on year. The figure for Asia was €430.5 million, a fall of 4.7%.
Its figures for footwear also showed growth. Footwear revenues were close to €1.2 billion, an increase of 2.4% year on year. However, sales of apparel were down by 1.5% to €594.3 million, while accessories sales slipped to €295.7 million, a decline of 5.7%.
Puma’s chief finance officer, Markus Neubrand, said the group’s full-year outlook for 2025 remained unchanged. To address challenges such as increasing costs and narrower margins, he said the group was concentrating on “controllable factors”.
These include a “cost-efficiency programme” that will lead to the loss of 500 jobs across the group by the end of June.
